Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance. A balanced scorecard for H Department Store.

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Answer 1

Question

Chapter 12, Problem 21C

1.

To determine

Concept introduction:

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

A balanced scorecard for H Department Store.

2.

To determine

Concept introduction:

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

To explain: Certain measures of performance show improvement while others do not and suggest the steps that management can take in such circumstances.

3.

a.

To determine

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

To explain: The improvement in customer satisfaction with regards to the accuracy of their charge account bills does not lead to any improvement in the average age of accounts receivable and bad debt measures.

3.

b.

To determine

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers and finance.

To explain: The total profits do not increase in spite of improvement in the performance measures relating to bad debts, unsold inventory, and average accounts receivable.

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Selected comparative financial statements of Korbin Company follow. Sales KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 $ 512,008 $ 392,240 2019 $ 272,200 Cost of goods sold 308,229 245,542 174,208 Gross profit 203,779 146,698 97,992 Selling expenses 72,705 54,129 35,930 Administrative expenses 46,081 34,517 22,593 Total expenses 118,786 88,646 58,523 Income before taxes .84,993 58,052 39,469 Income tax expense 15,809 11,901 8,012 Net income $ 69,184 $ 46,151 $ 31,457 KORBIN COMPANY Comparative Balance Sheets Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings December 31 2021 2020 2019 $ 54,370 0 $ 36,390 600 $ 48,645 3,870 99,436 90,776 53,339 Total liabilities and equity $ 153,806 $ 127,766 $ 105,854 $ 22,456 $ 19,037 $ 18,524 68,000 68,000 50,000 8,500 8,500 5,556 54,850 32,229 31,774 $ 153,806 $ 127,766 $ 105,854

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Answer 2

Question

Chapter 12, Problem 21C

1.

To determine

Concept introduction:

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

A balanced scorecard for H Department Store.

2.

To determine

Concept introduction:

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

To explain: Certain measures of performance show improvement while others do not and suggest the steps that management can take in such circumstances.

3.

a.

To determine

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

To explain: The improvement in customer satisfaction with regards to the accuracy of their charge account bills does not lead to any improvement in the average age of accounts receivable and bad debt measures.

3.

b.

To determine

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers and finance.

To explain: The total profits do not increase in spite of improvement in the performance measures relating to bad debts, unsold inventory, and average accounts receivable.

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Answer 3

Question

Chapter 12, Problem 21C

1.

To determine

Concept introduction:

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

A balanced scorecard for H Department Store.

2.

To determine

Concept introduction:

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

To explain: Certain measures of performance show improvement while others do not and suggest the steps that management can take in such circumstances.

3.

a.

To determine

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

To explain: The improvement in customer satisfaction with regards to the accuracy of their charge account bills does not lead to any improvement in the average age of accounts receivable and bad debt measures.

3.

b.

To determine

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers and finance.

To explain: The total profits do not increase in spite of improvement in the performance measures relating to bad debts, unsold inventory, and average accounts receivable.

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Answer 4

Question

Chapter 12, Problem 21C

1.

To determine

Concept introduction:

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

A balanced scorecard for H Department Store.

2.

To determine

Concept introduction:

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

To explain: Certain measures of performance show improvement while others do not and suggest the steps that management can take in such circumstances.

3.

a.

To determine

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

To explain: The improvement in customer satisfaction with regards to the accuracy of their charge account bills does not lead to any improvement in the average age of accounts receivable and bad debt measures.

3.

b.

To determine

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers and finance.

To explain: The total profits do not increase in spite of improvement in the performance measures relating to bad debts, unsold inventory, and average accounts receivable.

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Answer 5

Chapter 12, Problem 21C

1.

To determine

Concept introduction:

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

A balanced scorecard for H Department Store.

2.

To determine

Concept introduction:

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

To explain: Certain measures of performance show improvement while others do not and suggest the steps that management can take in such circumstances.

3.

a.

To determine

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

To explain: The improvement in customer satisfaction with regards to the accuracy of their charge account bills does not lead to any improvement in the average age of accounts receivable and bad debt measures.

3.

b.

To determine

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers and finance.

To explain: The total profits do not increase in spite of improvement in the performance measures relating to bad debts, unsold inventory, and average accounts receivable.

Answer 6

Chapter 12, Problem 21C

1.

To determine

Concept introduction:

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

A balanced scorecard for H Department Store.

Answer 7

Chapter 12, Problem 21C

1.

To determine

Concept introduction:

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

A balanced scorecard for H Department Store.

Answer 8

2.

To determine

Concept introduction:

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

To explain: Certain measures of performance show improvement while others do not and suggest the steps that management can take in such circumstances.

Answer 9

2.

To determine

Concept introduction:

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

To explain: Certain measures of performance show improvement while others do not and suggest the steps that management can take in such circumstances.

Answer 10

3.

a.

To determine

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

To explain: The improvement in customer satisfaction with regards to the accuracy of their charge account bills does not lead to any improvement in the average age of accounts receivable and bad debt measures.

Answer 11

3.

a.

To determine

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.

To explain: The improvement in customer satisfaction with regards to the accuracy of their charge account bills does not lead to any improvement in the average age of accounts receivable and bad debt measures.

Answer 12

3.

b.

To determine

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers and finance.

To explain: The total profits do not increase in spite of improvement in the performance measures relating to bad debts, unsold inventory, and average accounts receivable.

Answer 13

3.

b.

To determine

Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers and finance.

To explain: The total profits do not increase in spite of improvement in the performance measures relating to bad debts, unsold inventory, and average accounts receivable.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 12 - Prob. 1Q Ch. 12 - Prob. 2Q Ch. 12 - Prob. 3Q Ch. 12 - Prob. 4Q Ch. 12 - Prob. 5Q Ch. 12 - Prob. 6Q Ch. 12 - Prob. 7Q Ch. 12 - Prob. 8Q Ch. 12 - Prob. 9Q Ch. 12 - Prob. 10Q

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Chapter 12 Solutions